6 - The Legal process and paperwork

The legal work to transfer a property is called conveyancing. If you are buying a property with a mortgage you will have to have a solicitor to do this for you. MortgageLine can help you choose a local reputable solicitor.

Your solicitor will guide you through the process and speak to the seller's solicitor - and make sure you understand the details. If you are not sure about something make sure you ask your solicitor to explain.

Starting the legal process
- It's up to you to liaise with your solicitor and make sure you are happy with the contract before you exchange so keep track of what your solicitor is doing.
Get a survey
- Check the building is sound. Your mortgage lender will request a standard valuation but this is just to check the value of the property
- Unless you are buying a new home, it makes good sense to pay a little extra for a more detailed survey.
- If you want work done before the sale goes through, or you want to negotiate a reduction in price, ask your solicitor to negotiate this with the seller's solicitor and estate agent.
Acceptance of the Contract
- Once you are happy with the property and your mortgage is fully approved you will sign contracts. At this stage the seller's solicitor will normally look for 10% of the purchase price (minus the booking deposit that you will have already paid)
- When you exchange contracts, you make a financial and legal commitment to purchase the property.